621 Pembroke RdHallandale Beach, FL 33009

Property Details for 621 Pembroke Rd

Year built

1955

Construction

CONCRETE

Lot size

0.15 AC

Property size (Sq ft)

856 SF

Zone code

WEST RAC

Property type

Auto shops

APN

51-42-21-24-0051

APU

514221240051

Description

This vacant, 950-square-foot retail lot, located at 621 W Pembroke Rd in Hallandale Beach, Florida (zip code 33009), presents a compelling redevelopment opportunity. Currently configured as a vacant auto repair shop, the property boasts a strategic corner location with two access points and significant frontage on State Road 824, experiencing over 40,000 vehicles daily. Built in 1960, the Class C building offers a substantial chance for renovation or new construction. The property is zoned B-G, making it ideal for a variety of retail uses, including a drive-through option. The asking price is $775,000, translating to $815.79 per square foot. This high-traffic location in Broward County offers excellent visibility and accessibility, making it an attractive investment for entrepreneurs seeking a prime retail space in a bustling area. The property's current condition is described as poor, presenting a blank canvas for a modern retail development. The substantial daily traffic count ensures high potential for customer engagement and business success. This is a rare opportunity to acquire a well-positioned retail lot with significant redevelopment potential in a thriving Florida market.

• CAP approach

  CAP return

  Valuation

  6%

  $450,188

  6.5%

  $415,558

  7%

  $385,875

• Comparable approach

  Method

  Valuation

  Relative Method

  $925,146

  Geo Method

  $925,146

• Alternative Use

  Use

  Valuation

  Residential

  $350,539

  Hospitality

  $321,092

  Educational

  $267,144

  Medical

  $276,332

  Retail

  $415,558

Location Insight

City

Hallandale Beach

County

Broward

State

Florida

Latitude

25.9962

Longitude

-80.1557

CBSA code

33100

CBSA name

MIAMI-FORT LAUDERDALE-MIAMI BEACH, FL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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